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Fairmarkit’s AI-fueled platform delivers autonomous procurement sourcing


Companies tend to divide their procurement spending into two main buckets. The first is large purchases over $500,000 with some starting $1 million, depending on the size of the organization. Anything below that figure falls under a category known as “tail spend.” Boston-based startup Fairmarkit has been working on a tail spend procurement solution for several years now, and has built a modern platform with a large dose of artificial intelligence to help companies find the best deals when it comes to their tail spend.
Today, the company announced a $35.6 million Series C, the kind of investment that’s been harder to come by this year in a tightening VC environment.
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